Over-50s urged to make most of cheaper premiums

Posted :21-01-2005

Over-50s are being urged to shop around and online to find the cheapest car insurance available to them, the Financial Times reports.

Malcolm Tarling of the Association of British Insurers (ABI) states that on average consumers in their 60s on have the cheapest car insurance policies, as a result of their road safety record.

"Our experience shows that much older drivers are more likely to be involved in an accident while people in their 50s are the least likely to crash," said Mr Tarling.

However, this group may be missing out on cheaper insurance by not shopping on the Internet, with insurers such as First alternative, Tesco and Norwich Union offering ten per cent discounts to consumers who buy their policies online.

"Although this age group is becoming more computer literate and there is a lot of hunting around for information, the number of transactions is not high. A fear of identity theft plays a big in this," said Richard Mason at insuresupermarket.com.

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